The U.S. isn’t just losing the battery race—it’s barely in the running. But it doesn’t have to be that way.
China dominates lithium-ion battery production and is building factories at breakneck speed. Europe, too, is adding battery plants as its power grid and car companies shift away from fossil fuels. Although a few factories are planned in the U.S., including Tesla Inc.’s Texas plant, BloombergNEF currently expects the country’s share of worldwide battery production to fall from 8% today to 6% in 2025.